Sec. 14. (a) The authority shall develop and use a priority ranking system in making loans from the fund.
(b) The ranking system must prioritize making loans for eligible projects to participants that: (1) have: (A) invested in a housing study within the last five (5) years; (B) had a housing study performed by a region's local economic development organization; or (C) demonstrated the need for housing inventory as indicated by the Indiana state housing dashboard; (2) have voluntarily revised unified development ordinances, zoning regulations, or other land development rules to allow for: (A) higher density development; (B) construction of other housing types including accessory dwelling units and manufactured and modular housing; (C) adaptive reuse of commercial buildings for residential use; or (D) waiver or elimination of regulations such as requirements for: (i) garage size and placement; (ii) steeper roof pitch; (iii) minimum lot size and square footage; (iv) greater setbacks; (v) off-street parking; or (vi) design standards that restrict or prohibit the use of code compliant products; (3) do not have impact fee ordinances; (4) have secured private, local, state, or federal funds to contribute to the eligible project; (5) have secured a letter of support from an employer stipulating that the public infrastructure will support residential housing that is in reasonable proximity to employment; or (6) assist: (A) homeowners to age in place through restoration or renovation of existing homes; or (B) communities in preparing for shovel ready housing. As added by P.L.204-2023, SEC.5.